- Debt and crisis
- The ultimate first grant, and how it works
- Two cohorts left: October & January
APPLY FOR A GRANT NOW. ATTEND A WRITING WORKSHOP IN AUGUST:
Back in May 2018, the Bank of Canada Governor, Stephen Poloz, made a speech to the Yellowknife Chamber of Commerce. I want to share his introduction with you:
Shakespeare wrote, “Neither a borrower nor a lender be.” Well, that may have been reasonable advice back in Hamlet’s day, but it is hard to imagine a modern economy like ours functioning under that dictum.
For most Canadians debt is a fact of life, at least at some point. Borrowing can help someone get a higher education, or buy a new car, or purchase a home. Simply put, debt is a tool that allows people to smooth out their spending throughout their life.
The amount of debt held by Canadian households has been rising for about 30 years, not just in absolute terms but also relative to the size of the economy. At the end of last year, Canadian households owed just over $2 trillion. Mortgages make up almost three-quarters of this debt.
While debt is indispensable for our modern way of life, it has been a growing preoccupation for the Bank of Canada for several years now. That is because high debt levels can make us vulnerable to negative events—individuals as well the entire economy.
There are two ways to look at this. Traditionally, our focus has been on the vulnerability of Canada’s financial system arising from elevated indebtedness. This means analyzing how our banks would manage a serious economic recession with high unemployment and increasing debt defaults. But the Bank is also focused on the vulnerability of our economy to rising interest rates, given high household debt. There is little doubt that the economy is more sensitive to higher interest rates today than it was in the past, and that global and domestic interest rates are on the rise.
So, today I want to talk about household debt in Canada—the dynamics that led to its buildup, how big a problem it is for Canadians now, and how we can manage the risks in the years ahead. You can catch the rest of it here: https://www.bankofcanada.ca/2018/05/canada-economy-household-debt-how-big-the-problem/
I highlight this introduction to make a point. One of the biggest fears in our society is losing your job.
Imagine all those bills to pay and, whammo, you’re punted to the street.
Most of us have been there at one point in our life. I was back in 2003. “Laid off” with a few hundred bucks in my account. I “headed West” and haven’t looked back.
But it was scary. Terrifying. And I didn’t have a pile of debt.
I can’t imagine going through a big lay off with a pile of debt, which according to the Governor, most of us have.
But before I go any further down this doom and gloom trail, I bet we have all heard this story (or one like it).
“I got let go and it turned out to be the best thing that ever happened to me.”
When you have to start from scratch, it allows you to dream again.
And this “dream again” leads me to today’s brilliant government program.
FREE Government Funded Self Employment Training (SET)
Check this out.
If you get laid off, you can take SET, take 8 weeks of in-class business plan development, 16 weeks of intensive coaching and another six months of mentorship!
You can take this while you are on Employment Insurance, and you can earn self-employment income without losing your benefits! How amazing is that!!!!
As a graduate of this program, I can tell you it has changed my life. This program has graduated thousands of successful businesses, and it can help you too!
Here are the details:
Self-Employment Program | Mircobusiness Training Centre
This program supports unemployed and marginally employed individuals who have a viable business idea and require additional training to facilitate entry into self-employment. If you are unemployed, you could get self-employment training, continue to receive benefits, and get additional assistance for training and living expenses for up to 26 weeks. The objectives of the Self-Employment program are:
o To assist unemployed and marginally employed Albertans to create employment opportunities for themselves
o To create additional employment opportunities in the community that might not otherwise be available
To qualify for this program, individuals must:
o Have a viable business concept for starting a new business or taking over an existing business where they didn’t have prior ownership
o Have the capital or access to capital needed to start and operate their business
o Have the personal attributes to be successful entrepreneurs (i.e. self-motivated, risk taker and perseverance, good organizational skills)
o Have the skills and knowledge of the products or services pertaining to their new business
o Training costs and supplemental benefits
o Individuals participating in the Self-Employment program may be eligible for Income Support to cover living costs while in training
Contact: 1 (780) 482-4462
Courses start in October, and January!
GET IN THE GRANT GAME!!!!!!
IF YOU WANT TO WIN A GRANT, I am going to teach you. I have two classes coming up: Edmonton and Airdrie.
I’ve won a pile of grants – from a diverse range of grant agencies - since starting in 2012. I have people asking for help with their grants. I said fine. I’ll put on a class and I’LL TEACH YOU MY BEST TIPS and we will REVIEW AND WRITE YOUR GRANT APPLICATION.
Trust me. Getting started EARLY is critical. In Airdrie we actually have a grant agency staffer showing up to give feedback on your applications. DON’T MISS THIS UNBELIEVABLE OPPORTUNITY!!!! 15 PEOPLE ONLY.
P.S. Do you have any idea how many grants are available for businesses and non-profit organizations? Come find them and write one: